The representative office aims to service existing customers and attract new ones. Mr Berkeley said, "It is important to have a local presence here. While providing excellent service to our existing clients and portraying them in the right manner to the investing community, we also want to broaden our client base."

Currently, only three Indian companies, including Infosys Technologies, are listed on the Nasdaq. The stock exchange hopes that the new window is utilised by Indian companies to access global funds and capital through Nasdaq. The US stock exch ange is taking a 10-year view to build its operations in India significantly. It is also looking at a joint trading platform with an Indian stock exchange in the long term, which will be possible only after the rupee is made fully convertible. Nasdaq boasts of 63 per cent share of the total dollar volume trade market in the US. While highlighting the stock exchange's features, Mr Berkeley said, "Our business model encourages liquidity and does not allow monopoly." Further, over 50 per cent of the trades in Nasdaq occur instantaneously, he added.